FTX Moves $8.3M in Crypto (FTT) Ahead of Revised Proposal Deadline for Restructuring Plan

• The now-bankrupt FTX exchange and its sister trading firm, Alameda Research, have transferred $8.3 million, raising questions about the future of creditors awaiting compensation.
• The transfer occurred just a day before FTX debtors were scheduled to release an amended restructuring plan for the exchange.
• Two wallets linked to FTX and Alameda Research conducted the transfers, with the FTX-associated wallet moving 860 Tether Gold (XAUT) tokens, valued at over $2 million, to algorithmic trading firm Wintermute.

FTX exchange and Alameda Research transfer $8.3 million a day before the release of an amended restructuring plan, raising questions about the future of creditors awaiting compensation.

FTX and Almada Research: A Friend In Crime

According to PeckShield alerts, two wallets linked to FTX and Alameda Research conducted the transfers. The FTX-associated wallet moved 860 Tether Gold (XAUT) tokens, valued at over $2 million, to algorithmic trading firm Wintermute. Meanwhile, an Alameda-related wallet transferred 2,027 Ether, worth more than $6.3 million, to two undisclosed addresses. The exact motive behind these transactions is unclear, but they coincide with a critical juncture in FTX’s bankruptcy proceedings.